Unchained

BitGo on Why the Travel Rule Should Not Apply to Digital Assets - Ep.266

08.24.2021 - By Laura ShinPlay

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BitGo CEO Mike Belshe and COO Jeff Horowitz talk about one of the hottest topics facing the crypto industry today: regulation. They discuss...

what BitGo does

why Jeff left his successful TradFi career to go crypto

how crypto compliance and custody differs from the traditional finance world

the state of crypto education amongst regulators

why Jeff and Mike think the infrastructure bill is a win for the crypto industry

what FinCEN is doing to regulate crypto

why they think the infrastructure bill’s goal of raising billions in crypto taxes could only bring in millions

what FATF guidance regarding VASPs requires of crypto companies

why the travel rule could lead to US customer data being shared overseas

how digital assets change the implications of the travel rule

how regulators are attempting to deal with DeFi

what the FATF guidance means for FATF countries, like the US

why DeFi is not ready for strict regulations

Jeff’s views on Brian Brooks’s departure from BinanceUS

the Galaxy Digital acquisition of BitGo

what security issues a trillion-dollar wallet presents

why BitGo refused to put a “freeze” function in its WBTC contract

why Tesla and MicroStrategy purchased BTC and why other companies have been slow to follow suit

whether BitGo will offer NFT solutions going forward

 

Thank you to our sponsors!

 

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2   

Polymarket: https://polymarket.com/ 

 

Episode links

 

Mike Belshe -- CEO BitGo

LinkedIn: https://www.linkedin.com/in/mikebelshe/ 

Twitter: https://twitter.com/mikebelshe 

Previous Unchained appearance: https://unchainedpodcast.com/mike-belshe-on-what-bitgos-kingdom-trust-acquisition-means-for-crypto-and-how-security-will-develop-in-the-future/ 

Jeff Horowitz -- CCO BitGo

LinkedIn: https://www.linkedin.com/in/jeff-horowitz-3381977

 

BitGo

Website: https://www.bitgo.com/

Twitter: https://twitter.com/BitGo

Blog: https://blog.bitgo.com/ 

Galaxy Digital purchase: https://www.coindesk.com/galaxy-digital-to-buy-bitgo-for-about-1-2-billion-in-stock-cash 

FATF solution: https://www.coindesk.com/us-crypto-giants-build-first-version-of-fatf-compliant-travel-rule-tool

New York Trust Charter: https://decrypt.co/60110/bitgo-new-york-trust-charter-crypto-wall-street 

 

Infrastructure bill and its implications for crypto

https://twitter.com/mikebelshe/status/1424163820726009861 

https://www.wsj.com/articles/bitcoin-fans-are-suddenly-a-political-force-11629115380

https://www.coindesk.com/infrastructure-bill-house-politics

https://www.cnbc.com/2021/08/16/tax-foundation-infrastructure-bill-crypto-tax-provision-is-unworkable.html

https://decrypt.co/78198/senate-passes-infrastructure-bill-crypto-tax-house

https://www.taxnotes.com/featured-analysis/proposal-regulate-digital-asset-transactions-should-be-struck/2021/08/13/775gf#.YRfX9GEX2GI.twitter

https://twitter.com/vtg2/status/1426264859071627266

https://twitter.com/BlockchainAssn/status/1427276559052910599 

Unchained coverage: 

https://unchainedpodcast.com/how-congress-might-pass-laws-bad-for-proof-of-stake-and-defi/

https://unchainedpodcast.com/crypto-got-screwed-what-happens-next-in-the-senate/

https://unchainedpodcast.com/this-bill-looks-very-bad-for-crypto/

 

FATF and the travel rule

https://sumsub.com/blog/what-is-the-fatf-travel-rule/

Unchained coverage:

https://unchainedpodcast.com/why-the-travel-rule-is-one-of-the-most-significant-regulations-in-crypto/

https://unchainedpodcast.com/why-proposed-fatf-rules-could-be-a-shock-for-defi/

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